Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Credit Card BYTES FROM OUR KITCHEN

    UOB Balance Transfer

    Customers who are looking to engage in balance transfer to exercise better control over their debt can now opt for UOB’s facility. Not only does UOB Balance Transfer allow you the freedom of flexible repayments, but a minimum payment of just 5% of your outstanding amount on or before the due date each month ensures that clearing your debt is now as easy as it gets.

    Features of UOB Balance Transfer

    • The interest rate applicable for a UOB Balance Transfer starts from 7.77% per annum (for six months), and goes up to 7.99% (for 18 months).
    • The tenure of the facility extends up to 18 months.
    • There is no setup fee to get the balance transfer done
    • Customers can choose up to 10 cards to consolidate their debt.
    • The minimum monthly payment that must be made is either RM50 or 5% of the outstanding amount, whichever is more.
    • If the customer wishes to terminate the facility, an early termination fee of RM100 becomes applicable.

    The following table shows how the plan works in various tenures:

    Plan Special Interest Rate Special Interest Rate Term
    Plan 14 7.77% p.a.* 6 months
    Plan 15 7.88% p.a.* 12 months
    Plan 16 7.99% p.a.* 18 months

    Example:

    Special Interest Rate Special Interest Rate Term (months) Outstanding amount from other credit cards (RM) Normal Finance Charge at 18% p.a.*(RM) Finance Charge UOB Balance Transfer plans(RM) Total Savings (RM)
    7.77% p.a 6 10,000 824.83 356.05 468.78
    7.88% p.a. 12 10,000 1,490.91 652.69 838.22
    7.99% p.a. 18 10,000 2,028.80 900.56 1,128.24

    How to Apply for Balance Transfer with United Overseas Bank

    Doing a balance transfer with UOB is fairly simple. Customers can apply for the same by merely sending a text message with UOBBT to 33310. In a few days’ time, a representative of the bank will give you call and take things further. Another way to apply for a balance transfer with UOB is to call the bank’s 24/7 call centre at 03-26128121. For customers who apply for a balance transfer via mail, you can simply download the application form from the official website of the bank, fill it in, attest a photocopy of your credit card statement with another bank, and send it to UOB Card Centre, P.O Box 10253, 50708, Kuala Lumpur.

    UOB Credit Card Balance Transfer Promotion

    We all know how frustrating it can be to completely clear off our outstanding credit card dues, but with the credit card balance transfer plan from UOB, consolidating these dues just became a lot simpler. This promotional offer from UOB allows its cardholders to transfer outstanding dues from other bank credit cards onto their UOB card and pay it off at lowered interest rates with flexible tenure options.

    Benefits:

    • Be able to consolidate outstanding credit card dues and manage finances effectively.
    • The promotional offer has tenures of 6, 12 and 18 months.
    • If reducing interest rate option is selected, the rate of interest offered is 7.77% p.a. for a 6 month tenure option, 7.88% p.a. for a 12 month tenure option and 7.99% p.a. for an 18 month tenure option.
    • If the cardholder chooses for fixed rates of interest, the interest charged is 3.33% for a 6 month tenure option and 6% for a 12 month tenure option.

    Validity:

    This promotional offer from UOB is valid till the 31st of December 2016.

    How to Apply:

    The application process for this promotional offer is simple and hassle free. Cardholders simply need to visit their nearest UOB branch to initiate application or call on their helpline.

    UOB Balance Transfer FAQ’s

    1. Can I apply for a UOB balance transfer if I have not taken out a UOB credit card yet?

    2. No. Customers who wish to apply for a UOB balance transfer will have to own a UOB credit card before applying for a balance transfer. The facility is open to both existing as well as new card holders.

    3. Is it necessary to stick to the monthly repayments or can I repay the balance before the expiry of the tenure?

    4. Customers who cannot pay the full predetermined amount each month can choose to pay the minimum amount which is either RM50or 5% of the outstanding balance, whichever is more. If the customer wishes to repay the whole amount in advance, they can do so too, but an early repayment charge will be applicable.

    5. What happens in case I cannot make the repayment within the predetermined period?

    6. If customers fail to make repayments before the due date, charges will be levied. Further action may also be taken by increasing your interest rates back to 18% per annum, which is also the highest rate of interest charged on a credit card.

    7. How much will early settlement cost me?

    8. If you choose to terminate your balance transfer program or cancel the UOB credit card, the early settlement fee applicable to you will be RM100.

    Other Bank Balance Transfer Plans

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